Asset Valuation Services
MIAC is an asset valuation service provider for all mortgage and other fixed-income asset classes in the financial industry today. Using our proprietary asset valuation software, MIAC Analytics™, and leveraging the firm’s experience of over 30 years, MIAC can assist your institution in understanding the value of any assets or liabilities on your balance sheet.
Experience has never counted more.
35
YEARS
Experience in Asset Valuation and Analytics
3
TRILLION
Whole loans and MSRs valued, hedged, and accounted for monthly
Fair Valuations You Can Trust
MIAC is a leader in providing mortgage industry participants with state-of-the-art asset valuation services on a wide range of mortgage-related assets.
MIAC models the future behavior of the asset and generates the monthly cash flows given current loan characteristics and by applying specific market assumptions. These servicing valuations encompass the entire spectrum of mortgage collateral types including commercial, residential, and home equity. MIAC’s seasoned whole loan pricing process involves modeling with an integrated “Triangulation” approach for reliable markets-based valuation for every loan in a portfolio.
MIAC values over $7 trillion annually in seasoned whole loan assets and consumer receivables. Whole loan pricing is bifurcated into two different pricing conventions. Newly created loans are priced relative to TBA MBS prices by adjusting the MBS prices with current and accurate price adjustments.
MIAC prices over $600 billion of whole loans each month for institutions ranging from hedge funds to the Federal Home Loan Banks and Wall Street Dealers. MIAC has over 20 years of experience in pricing both performing and non-performing mortgages, all types of fixed and adjustable loans, subprime loans, home equity loans, and manufactured housing loans.
Working with a wide range of customers, governmental and private, MIAC has analyzed and valued more performing and distressed debt assets over the last two years than other valuation firms. MIAC continuously refines its valuation assumptions based on prevailing market conditions.
Asset Valuation Services
MIAC is a leader in asset valuation services and software for pricing and risk management. MIAC values all ranges of asset classes, from prime to subprime and everything in between.
MSR Valuation
Residential Servicing Valuation
MIAC has insight into many different valuation methodologies that can create unique arbitrage opportunities for both buyers and sellers of servicing portfolios. Our professionals maintain strong dialogues with key individuals responsible for servicing valuations and acquisitions within their institutions.
Commercial/Multifamily Servicing Valuation
All of the pricing and assumptions that MIAC uses in our MSR valuations are based on information obtained through actual market trades, industry surveys, and through our proprietary Generic Servicing Assets (GSAs™), a monthly virtual auction among active participants in the servicing marketplace on approximately 300 servicing asset classes. The MSR market pricing assumptions are used to generate the most appropriate cash flows and value them using the most common market pricing conventions. Valuations are performed at the loan level, or individual loans within a portfolio are classified and pooled into buckets of homogeneous characteristics such as note rate, product type, and the investor remittance schedule.
Whole Loan Valuation
Whole Loan Pricing
MIAC’s whole loan trading desk allows us to provide transparency surrounding normally opaque whole loan markets. Our integrated process utilizes both market feedback and modeling to ensure price accuracy.
MIAC uses a SIFMA compliant cash flow engine, which has the ability to handle macroeconomic scenarios, as well as shocks to both rates and assumptions. Models can be customized and implemented as agreed upon with the client.
Behavioral Modeling
MIAC’s suite of predictive behavioral models, CORE, is used in our whole loan pricing process:
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Logistic regression using expansive data sets
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Handles transitions through the delinquency to REO waterfall
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Models exist for most major loan types
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Configurable to accommodate market perceptions
